Trading Places — Moved from Europe to Bangalore traffic! It’s a voluntary choice…

Vineet Bhardwaj, 13 Jun 2017

After 30 years in the industry, living and breathing insurance, I feel time is ripe to change the status quo.

After 30 years in the industry, living and breathing insurance, I feel time is ripe to change the status quo. The Insurance industry has seen lots of changes in the last fifteen years in India. Most of the changes are related to making companies more efficient and processes better. However, unlike other sectors we have not seen Insurance companies redefining the customer experience.

Globally the tide is beginning to turn. Over the last few years, huge investments are flowing in to foster insure-tech companies, who aim at changing this. The global insur-tech market is expected to grow steadily over the next four years with a CAGR of more than 10% by 2020.

“After 30 years in the industry, living and breathing insurance, I feel time is ripe to change the status quo.”

When I got the opportunity to partner with Fairfax to start a new venture, I grabbed it with both hands (legs too!). Fairfax is amongst the largest general insurance companies in the world and a very big investor in India.

In India too, we are witnessing a transition in customer aspirations across industries. 88% of insurance customers demand more personalization from providers. Around one fourth of the cases in consumer courts are relating to insurance companies, which clearly shows that customers are looking for something different. With such changing dynamics time is ripe for a new player.

With exposure to markets across the world, I have witnessed firsthand the challenges and opportunities. Presently only 29% of insurance customers are satisfied with their current providers and we hope to change that statistic.

“When I got the opportunity to partner with Fairfax to start a new venture, I grabbed it with both hands (legs too!)”

A beautiful view of the iconic Taj Mahal. (Above)

 

 

 

 

 

When I got the opportunity to partner with Fairfax to start a new venture, I grabbed it with both hands (legs too!). Fairfax is amongst the largest general insurance companies in the world and a very big investor in India.

“After 30 years in the industry, living and breathing insurance, I feel time is ripe to change the status quo.”

After 30 years in the industry, living and breathing insurance, I feel time is ripe to change the status quo. The Insurance industry has seen lots of changes in the last fifteen years in India. Most of the changes are related to making companies more efficient and processes better. However, unlike other sectors we have not seen Insurance companies redefining the customer experience.

Globally the tide is beginning to turn. Over the last few years, huge investments are flowing in to foster insure-tech companies, who aim at changing this. The global insur-tech market is expected to grow steadily over the next four years with a CAGR of more than 10% by 2020.

 

“When I got the opportunity to partner with Fairfax to start a new venture, I grabbed it with both hands (legs too!)”

 

In India too, we are witnessing a transition in customer aspirations across industries. 88% of insurance customers demand more personalization from providers. Around one fourth of the cases in consumer courts are relating to insurance companies, which clearly shows that customers are looking for something different. With such changing dynamics time is ripe for a new player.

The new note attempts a modern aesthetic, but falls woefully short.

With exposure to markets across the world, I have witnessed firsthand the challenges and opportunities. Presently only 29% of insurance customers are satisfied with their current providers and we hope to change that statistic.

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